Common use of Future Working Capital Contributions Clause in Contracts

Future Working Capital Contributions. At any time during the Fiscal Year at the discretion of the Management Committee, Patriot and TPL shall be obligated to make Working Capital Contributions in equal amounts in order to maintain a Working Capital Fund of not more than Eight Million Dollars ($8,000,000), and then only to the extent necessary to bring the balance of the Working Capital Fund to Eight Million Dollars ($8,000,000), provided, however, that neither TPL nor Patriot shall be required to contribute more than Two Million Dollars ($2,000,000) in any Fiscal Year. Except as provided in this Section 5.3, no Member shall be obligated to make any contribution of capital to the Company.

Appears in 3 contracts

Samples: Operating Agreement (Patriot Scientific Corp), Operating Agreement (Patriot Scientific Corp), Commercialization Agreement (Patriot Scientific Corp)

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Future Working Capital Contributions. At any time during the Fiscal Year at the discretion of the Management Committee, Patriot and TPL shall be obligated to make Working Capital Contributions in equal amounts in order to maintain a Working Capital Fund of not more than Eight Million Dollars ($8,000,000), *** and then only to the extent necessary to bring the balance of the Working Capital Fund to Eight Million Dollars ($8,000,000), *** provided, however, that neither TPL nor Patriot shall be required to contribute more than Two Million Dollars ($2,000,000) *** in any Fiscal Year. Except as provided in this Section 5.3, no Member shall be obligated to make any contribution of capital to the Company.

Appears in 1 contract

Samples: Limited Liability (Patriot Scientific Corp)

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